Common use of Post-ARD Contingent Interest Clause in Contracts

Post-ARD Contingent Interest. From and after the Series 2019-1 Anticipated Repayment Date of the Series 2019-1 Class A-2 Notes until the Series 2019-1 Class A-2 Outstanding Principal Amount has been paid in full, additional interest will accrue on the Outstanding Principal Amount at an annual interest rate (the “Series 2019-1 Class A-2 Post-ARD Contingent Interest Rate”), which will be equal to the greater of (a) 5% per annum and (b) a per annum rate equal to the excess, if any, by which (i) the sum of the yield to maturity (adjusted to a quarterly bond-equivalent basis), on the applicable Series 2019-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus 5% plus 1.950%, exceeds (ii) the Series 2019-1 Class A-2 Note Rate (such additional interest, the “Series 2019-1 Class A-2 Post-ARD Contingent Interest”). Computations of Series 2019-1 Class A-2 Post-ARD Contingent Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20192014-1 Anticipated Repayment Date of Date, if the Series 20192014-1 Class A-2 Notes until the Series 2019-1 Class A-2 Outstanding Principal Amount Final Payment has not been paid in fullmade, then additional interest will accrue on the Outstanding Principal Amount Series 2014-1 Class A-2 Notes at an annual interest rate (the “Series 20192014-1 Class A-2 Quarterly Post-ARD Contingent Interest Rate”), which will be ) equal to the rate determined by the Servicer to be the greater of (aA) 55.00% per annum and (bB) a per annum rate equal to the excess, if any, by which the sum of (i) the sum of the yield to maturity (adjusted to a quarterly bond-equivalent basis), on the applicable Series 20192014-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus 5% plus 1.950%, exceeds (ii) 5.00% plus (iii) 2.150% exceeds the Series 20192014-1 Class A-2 Note Rate (such additional interest, the “Series 20192014-1 Class A-2 Quarterly Post-ARD Contingent Interest”). Computations All computations of Series 20192014-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be calculated made on the basis of a 360-day year consisting of and twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 2019-1 Anticipated Repayment Date of the Series 2019-1 Class A-2 Notes Date, until the Series 2019-1 Class A-2 Outstanding Principal Amount has been paid in full, additional interest will accrue on the Outstanding Principal Amount at an annual interest rate (the “Series 2019-1 Class A-2 Quarterly Post-ARD Contingent Interest RateInterest”), which will be ) shall accrue at a per annum rate (equal to the rate determined by the Servicer to be the greater of (aA) 55.00% per annum and (bB) a per annum rate equal to the excessamount, if any, by which (ia) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis), ) on the applicable Series 2019-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years ten (10) years, plus 5% (y) 5.00%, plus 1.950(z) 2.25%, exceeds (iib) the Series 2019-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Offered Notes Rate (such additional interest, from and after the “Series 2019-1 Class A-2 Post-ARD Contingent Interest”)Anticipated Repayment Date. Computations All computations of Series 2019-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be calculated made on the basis of a 360-day year consisting of twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20192012-1 Anticipated Repayment Date of Date, if the Series 20192012-1 Class A-2 Notes until the Series 2019-1 Class A-2 Outstanding Principal Amount Final Payment has not been paid in fullmade, then additional interest will accrue on the Series 2012-1 Class A-2 Outstanding Principal Amount at an annual interest rate (the “Series 20192012-1 Class A-2 Post-ARD Contingent Interest Rate”), which will be ) equal to the greater of (aA) 5% per annum and (bB) a per annum rate equal to the excess, if any, by which the sum of (i) the sum of the yield to maturity (adjusted to a quarterly bond-equivalent basis), on the applicable Series 20192012-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus (ii) 5% plus 1.950%, (iii) 3.40% exceeds (ii) the Series 20192012-1 Class A-2 Note Rate (such additional interest, the “Series 20192012-1 Class A-2 Post-ARD Contingent Interest”). Computations All computations of Series 20192012-1 Class A-2 Post-ARD Contingent Interest shall be calculated made on the basis of a 360-day year consisting of and twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20192012-1 Anticipated Repayment Date of Date, if the Series 20192012-1 Class A-2 Notes until the Series 2019-1 Class A-2 Outstanding Principal Amount Final Payment has not been paid in fullmade, then additional interest will accrue on the Series 2012-1 Class A-2 Outstanding Principal Amount at an annual interest rate (the “Series 20192012-1 Class A-2 Post-ARD Contingent Interest Rate”), which will be ) equal to the greater of (aA) 5% per annum and (bB) a per annum rate equal to the excess, if any, by which the sum of (i) the sum of the yield to maturity (adjusted to a quarterly bond-equivalent basis), on the applicable Series 20192012-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus (ii) 5% plus 1.950%, (iii) 3.820% exceeds (ii) the Series 20192012-1 Class A-2 Note Rate (such additional interest, the “Series 20192012-1 Class A-2 Post-ARD Contingent Interest”). Computations All computations of Series 20192012-1 Class A-2 Post-ARD Contingent Interest shall be calculated made on the basis of a 360-day year consisting of and twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20192022-1 Anticipated Repayment Date of the Series 2019-1 Class A-2 Notes until the Series 20192022-1 Class A-2 Outstanding Principal Amount has been paid in full, additional interest will accrue on the Outstanding Principal Amount at an annual interest rate (the “Series 20192022-1 Class A-2 Quarterly Post-ARD Contingent Interest RateInterest”), which will be equal to the greater of (a) 5% per annum and (b) shall accrue at a per annum rate equal to the excessrate determined by the Manager to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (ia) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis), ) on the applicable Series 20192022-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years ten (10) years, plus 5% plus 1.950(y) 5.00%, plus (z) 3.87% exceeds (iib) the Series 20192022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue on the Series 2022-1 Class A-2 Notes at the Series 2022-1 Class A-2 Note Rate (such additional interest, from and after the “Series 20192022-1 Anticipated Repayment Date. All computations of Series 2022-1 Class A-2 Post-ARD Contingent Interest”). Computations of Series 2019-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be calculated made on the basis of a 360-day year consisting of twelve 30-day months.